Solana Soars 16% as SEC Nears Staking ETF Approval

by Ouess

Solana (SOL) has surged 16% in just four days, nearing $160 as rumors swirl that the SEC may approve the first-ever Solana Staking ETF. Analysts suggest this could trigger institutional adoption and a supply squeeze, driving prices even higher.

Bloomberg ETF expert James Seyffart recently noted unusually fast SEC correspondence, hinting that approval for REX Shares’ Solana Staking ETF could be imminent. If greenlit, this would be a major milestone—similar to Bitcoin and Ethereum ETFs but with an added staking yield feature

https://twitter.com/REXShares/status/1938719417258647982

How a Solana ETF Could Impact the Market

Currently, 391.3 million SOL (65% of circulating supply) is staked, earning an average 7.52% annual yield. An ETF would let institutions gain exposure to staking rewards without self-custody risks, potentially:

  • Boosting demand from big investors
  • Reducing liquid supply, pushing prices up
  • Strengthening Solana’s position vs. rivals like Ethereum

Technical Breakout Suggests More Upside

SOL has broken out of a bullish falling wedge pattern, signaling a potential trend reversal. Key levels to watch:

  • $175: Next resistance
  • $200: Ultimate target (last seen in March)

The RSI at 54.80 suggests room for growth before overbought conditions kick in. However, if momentum stalls under $165, a pullback to $145–$150 is possible.

What’s Next for Solana?

If the ETF is approved, Solana could:

  • Attract institutional inflows
  • Challenge Ethereum’s dominance in staking
  • Rally toward $200+

Investors are closely watching the SEC’s next move—a decision could come soon.

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